BF, SCCI call budget anti-traders and IMF-dictated

PESHAWAR
Businessman Forum leader former Senator Ilyas Ahmad Bilour and president Sarhad Chamber of Commerce and Industry Fuad Ishaq termed fiscal budget 2024-25 as IMF-dictated and anti-traders and masses and was tantamount to the last nail in coffin of industry and export and categorically rejected.
Addressing a news conference at the SCCI house on Monday, heavily attended by traders, industrialists and representatives business community and media, Ilyas Bilour and Fuad Ishaq said government has presented next year fiscal budget by following harsh conditions of IMF, in which massive taxation measures were taken, making it clear that SCCI and business community will never accept any additional taxes and not allow to implement them and will take steps against them under an organized strategy.
They said the main purpose of the budget was to further damage the economy, business, trade and industry and put them in severe danger.
Pakistan economy needs taxes, but it is essential to bring new people to broaden the tax-base instead of further burdened existing taxpayers with new taxation measures, Faud Ishaq said.
He added SCCI has given proposal to approve the government-introduced Tajir Dost Scheme for next 20 year and should give guarantee to traders after that no new tax will be imposed on them but making this scheme part of the budget document, the Tajir Dost Scheme has become anti-trader step, therefore, business community didn’t accept it.
The presser was attended by SCCI senior vice president Sanaullah Khan, vice president Ejaz Khan Afridi, Anjuman e Tajran Khyber Pakhtunkhwa president Shaukat Ali Khan, Tajir Insaf president Shahid Khan, Tajir Ittehad Peshawar Cantt President Mujeebur Rehman, FPCCI former president Ghazanfar Bilour, former presidents of SCCI Malik Niaz Ahmad, Faiz Muhammad Faizi, Riaz Arshad, Zulfiqar Ali Khan, Sherbaz Bilour, former senior vice presidents Ziaul Haq Sarhadi, Imran Khan Mohmand, Shahid Hussain, former vice president Inayat Khan, Industrialists Association Peshawar President Ayub Zakori, executive members Affaf Ali Khan, Pervez Khan Khattak, Monawar Khurshid, Qurat Ul Ain, Muhammad Ismail Safi, and Nadeem Rauf Saddar Gul, Ihsanullah, Faiz Rasool, Ihsanullah Mohmand, Ishtiaq Paracha, different bazaars and trader organisations leaders, presidents, office bearers, industrialists, importers and exporters.
Fuad Ishaq said taxes were exorbitantly increased in export, which is detrimental for the country’s economy, even sales tax imposed on advance order, which is reflection of anti-trade and business.
Calling the IPPs cancer for the country’ economy, the SCCI chief said a hefty amount of Rs 2200 Billion had been paid in capacity to the IPPs from the national kitty. He disclosed Rs 2800 Billion would be paid to IPPs on head of capacity in the next fiscal year, which is completely unjust with the people and business community of the country.
Fuad Ishaq said Pesco line losses is approximately Rs102billion and outstanding amount on head of electricity is nearly Rs1.8trillion if Rs 102 Billion would be adjusted and rest of the amount will be given to the Khyber Pakhtunkhwa, so it will change destiny of the province.
Ilyas Bilour said the business community wants to pay taxes but it is essential to bring new people under the tax-net instead of further imposing taxes on the existing taxpayers.
Calling the budget 2024-25 as anti-trader and business, Mr Bilour outrightly rejected it, adding that imposition of 2 percent tax on export is highly inappropriate and completely unjust, which has made it clear that the government didn’t want to flourish export.
The BF leader said those people who made IPPs have earned billions of rupees and demanded the review of the IPPs and get rid the whole nation from this menace forever. He also termed the imposition of fixed charge of electricity on people, and increase on industry as a highly unjust move of the government, demanding its immediate withdrawal.
Ilyas Bilour said the federal finance minister has no knowledge about the budget which has been imported from America. He said 35lakh metric tons of wheat was put in the warehouse but people have been forced to buy flour on high rates and demanded to allow import of wheat products.
Fuad Ishaq said KP, wherein natural gas production is surplus, has been put in an RNLG basket, which is unacceptable. He made it clear that if gas prices continue to increase with current ratios, people and industries will be forced to use alternative sources of energy. He expressed grave concern over increasing low water tables in Peshawar.
Ilyas Bilour while replying to a question said that a revenue collection target of Rs 12000 Billion has been given to FBR which is unachievable and collection of heavy amounts of taxes will break the backbone of people and business community.
Shuakat Ali Khan, trader leader also addressed the press conference and said that the government is collecting taxes like London and giving facilities even not like Somalia. He said traders were receiving extortion calls and when the government and police department requested to provide traders security they simply asked to install security cameras.